Perform a study on the impact of delayed childbearing on fertility by focusing on the incidence of first births and childlessness among married couples. They will develop a dynamic sequential decision-making model of fertility to analyze variables which influence the timing of fertility and the consequences of fertility delay for later fertility, using data on a sample of currently married women from the 1972 and 1976 waves of the Panel Study of Income Dynamics (PSID). Fertility will be examined in terms of: (1) the total number of children that childlessness women expect to have and (2) the probability that a woman will have a first birth during a particular time interval. The analysis will, in part, examine how variables such as education, age of marriage and labor force participation affect fertility probabilities and expectations. The study will attempt to predict the future course of first births among currently childless women in their late childbearing years.